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<br /> If under Paragraph 17 hereof [he Property is sold or the Property is otherwise acquired by �ender , Lender shall apply , no � � �
<br /> later [tian immedialely prior to the sale of the Property or its acquisition by Lender , any Funds held by Lender at the Ume of � . � . �
<br /> . . applicalion as a credit against the st�ms cre�ered by this MorLgage. � � �
<br /> � . 3 . Application o(� Payments . Unless . applicabie law provides otherwise , . all paymenfs received by Lender under the Note and � � �� . � �
<br /> : Paragraphs 1 and 2 hereof sball be applied by Lender £ rst {n payment pf amounts p0yable . to Lender by Borrower under .Paragraph � � � � �
<br /> 2 hereof, then to in[erest payable� on lhe Note, and then to tNe princtpal of Ihe Note . . . � � � � .. � � � � .. .
<br /> . . . � � 4. . ��� CBarges; .� Ltens . Borrower� shalipay all tazes , assessments and other charges , flnes and impositions �attribuWble to the � - �. � � �
<br /> � Property which .may� attain a priority overthls � Mortgage, at Lender's option in tBe � mannar provided under Paragraph 2 herepf � . . . � . .
<br /> � � . � � or by Borrowermaking payment, when due, directly to the peyee' thereof: . 6orrower �shall . promptly furnish to Lender. all notices . �
<br /> � of amounts due. under this Paragraph and, in the event �Borrower shall make payment diractly , . Borrower shali prornptly furnish `
<br /> �. . to Lender receipts evidenqing� suchpayme.nts . . Borrewer.shallpromptly �discharoe anv Ilen which hasbrtority over �this Mortgage; . . . � � �
<br /> � � � provided that. tFie � Borrower . shall not � be . required to discharge any such Iien so long as � Borrower. �sha❑ ..agree in writlng . . � � . .
<br /> � CQ � . to ihe payment �of: the obligation secured . by �such lien ��in a manner � acceptable�.to Lender , or � shall . in good fai [h � contest �� �� . �
<br /> �� � . such � lien by;' or defend �enforcement of su�h lien .in � legal proceedings � which: operate �to prevent- fhe enforcement of tha �
<br /> ` � � �,� �� lie� or (orfeiture of Ihe Proparty . oranypar[ thereof: � � � � � . . . � �. � ` �
<br /> 5 . Hazard� 4nsurance. � ' Borrower shall keep the� Improvements now existing or hereafter erecied on the Property insured � �
<br /> �. �: �� agAfnst loss by .fire, hazards included with(n the �term !'extended coverage" ,� and such other: hazardsas Lender may. requfre and � � �
<br /> ��� � � in sucFf artwunts and for sucfi periods aslender may ,require; provided that Lender shall not require that the amount o( such �� � . � � .
<br /> ' � �. � � wverage exceed . thatamount� ofcoverage required to paythe .sums secu�ed� by this Mortgage . . � . � � . � . � � � - � � ��� �
<br /> � 1 �� The Insurance. aarrier providing the'�insurance shall � be�chosen by Borrower. subject to approval by Lender, � provided, that � � . �
<br /> [� . � such 'approval shaN .not be unreasonably withheld �. � All premiums on insurance policies shall be �paid by Borrower making pay- . � . � .
<br /> � � � . � ment, when due , directly to ��the� Insurance carrier. � . � � . � � � �� � � � � � . � � . � �
<br /> � � . � � � ��1! .inmurance pa: icies and renewais ihereoE ahall be In form acceptable to Lender and sbali include a standard � .rangagee ciause �
<br /> � � � � in favor of and in form acceptable to Lender �. Lender shall have the right to hold �the policies and renewals lheroof, and Borrower .
<br /> %'t'^" shalt prompUy furntsh to Lender all renewal noticos , tho policles and any re�ewals thereof and alt receipts of pald premiums . � � � .
<br /> . . � . � in t}�e event r_f lnss, Borrnwer sha/! g(ve prom,�! r.oltce !a !hc lnsuran<e carrier and Lender, and Lender may rr<ka Nroof ef Icss � . . �
<br /> � . if not made promptly by Borrowen � �� � � � . . � . . � . �
<br /> - � . In the event of a {oss , the artwunts collected shall be payable to the Lender and at the option of the Lender may be used in �any � � � � �
<br /> . one or more of the following ways: ( 1 ) applied upon [he Indebtedness secured hereby wbether such Indebtedness be matured . � � ��
<br /> � . or unmaWred; (2) used to. fulfill � any of the covenants 4ontainad herein. as the Lender may . determine; (3) �used [p replace or�� � � �
<br /> . � � restore the Property to a�condiUon satlsfactory Yo LendEr; or (4J release the same to the Borrower. Such appllcalfon of proceeds�. � �
<br /> . � � to the indebtedness shall not extend or postpone� the tlue date. of [he monthly installments �referred to in Paragraph 1 hereof or `- . � .
<br /> � � cha�ge the amount of such insiallments . I( under Paragraph 17 hereof [he Property is acquired 6y Lender, �all righY, title and �`� . � . . � �
<br /> . . interest of Borrower in and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property � � . �� � � .
<br /> � prior to the saie or aequisition shatl pass to Lender to the extent of the sum secured 6y this Mortgage immedia[ely prior to such � � �� � � �
<br /> . . � � sale or acquisition . � � - � ' � - � � �- � �
<br /> . 6. Preservation and tdalntenence of Property . Borrower shall keep the Property iri gootl repair and shall not permlt or � : �
<br /> � commi[ waste,. impafrment, or deterioration of the Property and shalf comply with any restrictions affecting tbe Property . � �
<br /> � � � � 7. Protection of Lender'S Security �. 1( Borrower faiisto perform the covenants and agreements contaf�ed in this Mortgage , or . . � �
<br /> , � � if any acUon or proceeding is commenced which materially affects Lender' s tnterest io the . Property , � inGuding but not limited to, � . � .
<br /> � � � � eminent domain, insolvency , code enforcemenL or arrangemants or proceedings tnvolving a bankrupt or� decedent, then l.ender, �
<br /> � � � � at Lender' s o tion, u on notice to Borrower, ma make such a � �
<br /> . . P P y ppearances , disburse sucfi sums and take sucb action as is ..
<br /> � � . � necessary to protect Lender's interest, including but. not limited to, disbursement of reasonable attorney's fees and entry upon � � � � -
<br /> � � che� Preperty !o make repa�rs . Any artwunts disbursed by Lender pursuan2 [o this Paragraph 7 wfth interest thereon shali become � �
<br /> � � � . additionai lndebtedness o( Borrowrr securetl by this Mortgage to the extent permitted by applicable law . Unless Borrower and � ' � �
<br /> � � � Lender agree to other terms of payment, such amounts shall be payable upon notice trom Lender to Borrower requesting payment � �
<br /> � thereof, and �shall bear interest trom the date of dis6ursement at the rate of 10$ uniess payment of interes[ at such rate would be
<br /> � � � contrary to app� icabl¢ law, {n which event such amounts shall bear interest at fhe highest rate permissibie by applleable law . � � � �
<br /> � � Nothing contained �in this Paragraph 7 shall requlre Lender to incur any expense o� do any act hereunder . � � � , � � ,
<br /> � � �. � d _ i �spectlon . � Lender may mafce or cause to be made reasonable entries upon and inspections� of the Property . � � � � � ` �
<br /> ` � 9 . �Condemnation _ Borrower agrees that all awards. heretofore or hereafter� made by any public or quasi-pubiic authority to �
<br /> � � : � . lhe presenR and ali subsequent owners of the Property covered by this Mortgage by . virtue of an exercise of the right of eminent �
<br /> � � � domain by such authority, Including any award for a taking of title, possession or righf of access to a public way , or for any � . � . . _
<br /> ' � � change of grade of streets �affecting satd Property, are hereby assigned to the Lender; antl lhe Lender at � Rs option is hereby �
<br /> ? � authorized, directed �and empowered to collect and receive the proceeds of any such award or awards from [he authorities making � � �� �. �
<br /> . � the same and to give proper receipts and acquittances therefore , and may , at the Lender' s election , use such proceeds in any one � � � �
<br /> � � or more of the following ways: (1 ) apply the same or any par( thereof u on the Indebtedness secured hereb � � � � � �
<br /> . P y , � whether such
<br /> . � . Indebtedness [hen be matured or u�matured; Q) use the same or any part thereof to fulfill any of the wvenants wntained herein � �
<br /> � � � � � es the Lender mey determine; ( 3) use the same or any part tFiereof to reptace or res[ore the Property to a condition saUsfat[ory � � � �
<br /> . to the L.ender; or (tl) release ihe same to the Borrower; and ihe 8orrower hereby covenants and agrees [o and with ihe Lender , � . �
<br /> . � � � upon request by the Lender, [o make, execute, and del (ver any and ati assignments and other instruments suffi [ient for the purpose � � � � �
<br /> � � ot assigning all wch awards to the Lender free, clear, and discharged of any and all encumbrances of any kind or nature whaiso- - � . . � .
<br /> ever . The applicatlon of such proc¢eds to the Indebtedness shail not extend or� postpone the due tlate of the monthly installments � � �
<br /> � ��. referred to in Paragraph 1 hereof or change � the amount of such instatlmen[s . . � � � � � ' , �. �
<br /> � � 70. � Borrower Not Released . Extension of the time for payment or modi fiwtion or amortization of the sums secured by this � � �
<br /> � . � Mortgag¢ granted 6y Lentler to Borrower or to any successor in Interest of Borrower shail not operate to release, in any manner, � .
<br /> � . theJfability of the orlginal 8orrower and Borrower's successors in interest. Lender shalLnol be required to commence proceedings. � � � � �
<br /> � � against such successor, to � refuse2o or to extend time for payment, or otherwise �to modify amortization of the sums secured by. this � � � � � �
<br /> � AAortgage by reason of any dertwnd made by the origi�al Borrower or Borrower's successors in interest . �. � � � � .
<br /> � �. l7 . Forebearance by Lender Not a Waiver . Any (orebearance by Lender in exercising any right or remedy . hereunder, or � � � w� � �
<br /> " . � � . otherwise aflorded by appl(cable law, shail not be a waiver� of or preclude Lhe exercise of any right or remedy hereunder . The
<br /> � procurement of insurance or the payment of taxes or other Ileris or charges by Lender shall not be a waiver of Lender's right lo � � � �
<br /> � � � acce�erate the maturicy of the Indebtedness secured by this Mortgege . . . � � � . � � �.. . . � � . � .
<br /> , . 12 . Remedies Cumulative . � All remedies provided In this Mortgage are distinct andtumulative to any other r;gh[ or remedy � � � �
<br /> �� � � � under [his�Mortgage ar af(orded�� by iaw or equfty , and may be exercised concurrentfy, indepeodentty, or successively . - � �. � '.
<br /> � 'i . � . 13. Successors and Assiqns Bound; Joint and Severai Liabflity• Captions .. The covenants and agreements herein contalned . . . . � � �� .
<br /> � shall bind and the rights hereunder shall inure to the respective successors and assigns of lender � and Borrower . AH covenants � ' � �
<br /> . . � and agreements of Borrower sha11 be jolnt and severaL The� captions and headings of the Paragraphs o(this Mortgage are for �
<br /> � . . convenience only and are �not to 6e used to Interpret or deflne the provisions hereof . In the �event tNe ownership of tMe Property � . . � �
<br /> � . or any part thereof becomes .vested in a person o[her than the Borrower, the Lender may deai with such successer or successors . � � . . �
<br /> , in interest with reference to this Mortgage and the �nde6tedness hereby � secured in the same manner as with the Borrower without � � �
<br /> in any manner vitiating or discharging [he Borrower's 1 (ability hereunder or upon tha Indebtedness hereby securad; and in the . �� � � . � . . � �
<br /> � .alternative, at� the optian of the Lender, Lender may declare tF�at the unpaid balance of the Indebtedness is immediately due and . . � -
<br /> � � � � , . � PaYablg. . . . � . . . , . . � . . . . � � . . . . . � . � . . � .. . . .
<br /> � � . tu :' ��NoBce. Any notica from Lerder to Borrower provided for in this Mortgage shall be by certitied mail to Borrower at the ' � � � � � � �
<br /> � � � � Property� address� siatad below o� at such address as Borrower may designate to Lender by certifled mail to Lender's address, . . � .. � � �
<br /> � . � .� excepf (or any notfce glve� to Borrower (n the manner prescribed by applicable law as provided in ParagrapN 17 ofthis Mortgage . � � . � � . � �
<br /> ' . . : 5 . Ur�l(orm � M�rtgage; � Govern7ng Law; Severabiiity . This iorm of Mo �tgage wmbinas uniform covenants for �ational use �
<br /> � � � � and non-uN(orm�covenants with limited variations by JuNsdictton to constitute� a uniform security. instrument covering real � �. . � � � . �
<br /> property .� This �Mortgage shall be governed by. the law of the jurisdiction in whick the Property is Iocated . In the event that any � . - � . � � �
<br /> � . � provision or�dause of� this Mortgage. or the� Note conFlicts with� applicableiaw, such wnflict shall not affect otherprovisions o( � � . � � ��
<br /> .. [his Mortgage or the Note which wn �be giver3 effect without the confiicttn rovision , and to this end the � � � � � A,
<br /> . 9 p provisions of thls . . . �
<br /> � Mortgage and the Note are declared to be severable. . � � � . � � . � . . . t .
<br /> . - 7.6. � �Borrower's Copy .� Borrower Shait be furnlshed a wnformed mpy of this Mortgage at the time of execution or aker � � .. . `"�f ' ' '" 1
<br /> recordation hereof. . . . Z . . _ , +.,. .,;:
<br /> , . . . . . . q"� � i� �+b5r�"'"
<br /> . �
<br /> � � . � . � . � . . . . � . � . � � , . t�F„���
<br /> . . . . . . . � . � .. . � . . � . . ;ir��:�
<br /> . . . . .. . . . . . . . . . . . . . . . . . � . :�� ' .�.;r ` ��':. . � .
<br />� � � � � � . : ;. . . . . . . . . . . � . . . . � � � . . : �.. "" �� �;�� � . .�� . �
<br />� . . . . � . � . . . �_
<br /> ORICINACRETURN TO PLYMOUTH; BORROWER RETAIN COPY . �
<br /> � � � . � . � . .. ._ �1
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